Times of Oman
TOO in 5 mins
05 : 30 AM
06 : 30 PM
50 to 80 per cent
Price in RO
24ct / gm
22ct / gm
Forex Rates vs R01
Back to Homepage
Cyprus vote begins with euro bailout in the balance
February 17, 2013 , 12 : 00 pm
SAVE THIS ARTICLE
Cypriot voters are going to the polls to choose a new president after a heated election campaign focused on rescuing the recession-hit EU member state from bankruptcy. Photo - AFP
Cypriots began voting on Sunday in a crunch election to choose a new president tasked with sealing a bailout deal to prevent the recession-hit Eurozone member from going bankrupt.
Cyprus desperately needs EU financial aid, but international lenders are awaiting the results of this election before finalising a rescue package.
Without a bailout the east Mediterranean island's Greek-exposed banks and failing economy would slide into default -- risking euro crisis contagion in other member states.
Polls opened at 07:00 local time (0500 GMT) and will close at 18:00 with a result expected less than three hours later.
Nicos Anastasiades, 66, of the rightwing main opposition Disy party, is tipped to win the first round in which 550,000 Cypriots are eligible to vote, perhaps managing to secure the 50-percent threshold that would avoid a run-off.
His closest challenger is former health minister Stavros Malas, 45, a British-educated independent backed by the communist AKEL party.
Anastasiades, who has been way ahead in opinion polls, is seen as someone the European Union can do business with, while his stance on ending the division of Cyprus is more flexible than that of his rivals.The European Commission, European Central Bank and International Monetary Fund are awaiting the election result before offering the terms for a 17-billion-euro ($23-billion) lifeline.
Malas, who is is confident of seeing off the challenge of 52-year-old former foreign minister George Lillikas and reaching a second round run-off vote next Sunday, argues for "softer" austerity measures.
Rate this Article
Rates : 0, Average : 0
Latest in this section
After Kabul attacks, 10,000 peace balloons
Gunmen kill seven police in NW Pakistan: officials
British zoo worker mauled to death by tiger
Japan PM visit boosts huge Myanmar industrial zone
In Syria's shadow, Iraq violence presents new test for US
Post a Comment
Did you like this section? Leave a comment!
Your Name :
Your Email Address :
Your Comment :
Enter ImageText here:
No Comments Posted
TOP RATED ARTICLES
Syria army says rebels trapped in Qusayr
China vows deeper reform in 2013 to sustain growth
ICC withdraws umpire Asad Rauf from Champions Trophy
Bayern star sorry for injury victim Goetze
Reign of terror of the 'devil woman'
John Macklin/Tony James Features
More in News
Out of the shadow
John Graham/Tony James Features
Hybrid power plants: Renewable energy’s newest trend
John Brian Shannon - Special to Times of Oman
Matt Damon is in a battle with one of America’s most powerful industries
Pakistan feudal dynasty receiving tough challenge from 'Robin Hood'
By Mehreen Zahra-Malik / Reuters
Tea, still Britain's queen of drinks
More in Features
Austerity has hardened the heart of the nation
Yasmin A. Brown
A visit to a zoo in Yemen
Thomas L. Friedman
Yemen: The case for preventive security
Mohammed Mahfoodh Al Ardhi
Don’t rush into blaming the regime on sarin use
Anorexia of the soul is true under-nourishment
More in Columns
Get Top news by E-mail.
Copyright © 2012 Muscat Press & Publishing House SAOC. All rights reserved. Times of Oman is not responsible for the content of external internet sites.
For reprint rights contact:
TOO Online Editorial